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Afreximbank Leveraging the Power of the Youth for Intra-African Trade

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4 years ago

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Afreximbank

Having implemented the AfCFTA in 2021, Africa is well equipped to become a continental trade hub, but only if the youth and digital technology resources the continent holds are utilized

JOHANNESBURG, South Africa, June 15, 2022/APO Group/ — 

Africa represents one of the highest potential markets for growth with significant natural and human capital resources untapped. Diverse and rich with opportunities, the continent is home to a number of growing markets spanning natural and mineral resources, construction, infrastructure, forestry, agriculture, tourism and cultural sectors. However, it is the continent’s human capital and digital technology potential that offers the solution to unlocking a new era of intra-African trade and growth.

Following the formation of the Organization of African Unity in 1963 – now the African Union – established with a vision for an Africa that was united, free and in control of its own destiny – countries across the continent have been progressively improving intra-African trade and commerce, recognizing the role cross-border business and continental cooperation will play in driving sustainable socioeconomic growth in Africa. To further incentivize trade, the African Continental Free Trade Agreement (AfCFTA) was implemented in January 2021, the premise of which was to form the world’s largest free trade area by connecting the over 1.3 billion people across 54 African countries. The AfCFTA marked a historic moment for the continent, signaling a new era of simplified trade in Africa.

However, despite its implementation, an article by the Economist of London stated that adoption and leveraging of the AfCFTA has been slow, and “in practice, no trade has happened under its terms because of continued political wrangling. “Africa’s leaders risk squandering the promise of freer trade.” Prof. Benedict Okechukwu Oramah, President and Chairman of Afreximbank, during his opening remarks at the 29th Annual Meetings of Afreximbank, contended that, “While the Economist was right with regards to the facts set out in their article, the conclusions are wrong because the facts in the article are symptoms of a major problem the article did not explore. We cannot reverse the symptoms without confronting the problem.”

A vibrant single market will open a new vista of opportunities that will broaden the choices available to the youth and empower them to reach their potential

According to Prof. Oramah, it is necessary to explore the roots of the problem rather than simply criticize modern state of affairs, while driving the adoption and capitalization of growth-oriented agreements such as the AfCFTA. Specifically, in order to accelerate intra-African trade and commerce, the continent should turn towards its own resources, driving investment and development by leveraging Africa’s human capital and technological potential.

“While the problem was identified decades ago, it is only now that Africa can boast of possessing a combination of factors that can resolve it. These consist of visionary and committed leadership, the youth, and digital technology. Our leadership has done the courageous work of giving us the AfCFTA. A lot now hinges on our Youth. It is for this reason that Afreximbank dedicated this year’s Annual Meeting to the theme, “Realizing the AfCFTA Potential in the Post-COVID-19 Era: Leveraging the Power of The Youth,” Prof. Oramah continued.

Prof. Oramah made a strong case for the role of the youth in Africa’s developmental future, emphasizing that industrial revolutions seen in other countries were largely attributed to a young and capable workforce – a young and capable workforce is representative of Africa’s workforce today. According to Prof. Oramah, “It is our view that the youth will be the catalytic force to the realization of the continental agenda. This asset in our hands is perhaps the greatest resource, an asset much more valuable than all the oil and mineral resources. The African youth are beginning to make significant contributions to economic transformation across the continent.”

“Sprouting everywhere in a fragmented continent, the African youth are poised to make giant strides in a single continental market and could seamlessly become the drivers of Africa’s integration and intra-African trade. Policies that give them intellectual property protection, ease the cost of doing business as well as improve access to the single African market will unleash their entrepreneurial drive. A vibrant single market will open a new vista of opportunities that will broaden the choices available to the youth and empower them to reach their potential,” concluded Prof. Oramah.

As Africa’s diverse markets witness heightened investment and development in a post-COVID-19 context, trade will be critical for ensuring continental, rather than isolated, socioeconomic development. The youth’s role in this development is clear and by investing in the continent’s human capital development, Africa will be able to reap the rewards of a strong and growth-focused economy.

“The African Energy Chamber (AEC) is not only an advocate for the development of the continent’s natural resources but of its human capital resources. Africa’s population represents the youngest, the fastest growing and the arguably the most determined. It is time for us to position the youth at the forefront of the continent’s development, and only then will we be able to witness unprecedented growth. During the continent’s premier energy event, African Energy Week 2022, discussions will center around the youth, the role of women in Africa’s energy future and strategies for enhancing intra-African trade and business,” states NJ Ayuk, Executive Chairman of the AEC.

Distributed by APO Group on behalf of African Energy Chamber.

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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2 days ago

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February 6, 2026

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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2 days ago

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February 6, 2026

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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2 days ago

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February 6, 2026

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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